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The Real Effects of Financial Sector Interventions During Crises
Laeven, Luc - 2011
exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy …
Persistent link: https://www.econbiz.de/10013128780
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The Real Effects of Financial Sector Interventions During Crises
Valencia, Fabian - 2011
exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy …
Persistent link: https://www.econbiz.de/10014402209
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Monetary policy, macroprudential policy and financial stability
Laeven, Luc; Maddaloni, Angela; Mendicino, Caterina - 2022
Recent research developed under the ECB research task force on Monetary Policy, Macroprudential Policy and Financial Stability highlights the existence of trade-offs and spillovers that monetary policy and macroprudential authorities face when deciding on their policy interventions, Monetary...
Persistent link: https://www.econbiz.de/10013272138
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Collateral booms and information depletion
Asriyan, Vladimir; Laeven, Luc; Martin, Alberto - 2019
undertake investment projects, some of which enable them to divert resources towards private consumption. Lenders can protect … values raise investment and economic activity, but they also raise collateralization at the expense of screening. This has … accumulates physical capital but depletes information about investment projects. As a result, collateral-driven booms end in deep …
Persistent link: https://www.econbiz.de/10012142110
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011557140
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Monetary policy, macroprudential policy and financial stability
Laeven, Luc; Maddaloni, Angela; Mendicino, Caterina - 2022
Recent research developed under the ECB research task force on Monetary Policy, Macroprudential Policy and Financial Stability highlights the existence of trade-offs and spillovers that monetary policy and macroprudential authorities face when deciding on their policy interventions, Monetary...
Persistent link: https://www.econbiz.de/10012822172
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Safe Asset Shortages : Evidence from the European Government Bond Lending Market
Aggarwal, Reena - 2020
We identify the unique role of the government bond lending market in collateral transformation during periods of market stress. Using a novel database, we provide evidence that safe assets in the lending market have higher demand, higher borrowing cost, and higher usage of non-cash collateral...
Persistent link: https://www.econbiz.de/10012855887
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Systemic Risk and Monetary Policy : The Haircut Gap Channel of the Lender of Last Resort
Jasova, Martina; Laeven, Luc; Mendicino, Caterina; … - 2021
We show that lender of the last resort (LOLR) policy contributes to higher bank interconnectedness and systemic risk. Using novel micro-level data, we analyze the haircut gap channel of LOLR – the difference between the private market and central bank haircuts. LOLR increases...
Persistent link: https://www.econbiz.de/10013225855
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U.S. Monetary Shocks and Global Stock Prices
Laeven, Luc; Tong, Hui - C.E.P.R. Discussion Papers - 2010
This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate policy, with stock prices increasing (decreasing) following unexpected monetary loosening (tightening). This impact is more pronounced for...
Persistent link: https://www.econbiz.de/10008692313
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Public Guarantees, Relationship Lending and Bank Credit : Evidence from the COVID-19 Crisis
Jiménez, Gabriel; Laeven, Luc; Martinez-Miera, David; … - 2022
This paper analyzes the impact of public credit guarantee schemes on the allocation and performance of bank credit during the COVID-19 crisis. We exploit exhaustive loan-level data from the credit register with unique information on the provision of COVID-19 public loan guarantees in Spain. We...
Persistent link: https://www.econbiz.de/10013297111